|  |  |  |
| --- | --- | --- |
| 3.2 |  | **Registration** |
|  |
|  |  | On or before the applicable Delivery Date in respect of each Aircraft, the Seller of such
Aircraft shall deliver, or procure that the relevant Lessee delivers, to the Air Authority
such documents as are necessary to instruct the Air Authority to record, to the extent
permitted by law, the relevant Purchaser or any Purchaser Nominee which is the owner or
lessor of such Aircraft as the new owner or lessor of such Aircraft in the aircraft register
maintained by the Air Authority. |
|  |
| 3.3 |  | **Security Interests** |
|  |
|  |  | Each Aircraft shall as of the applicable Delivery Date be free and clear of all Security
Interests other than the Novated Lease and Permitted Liens. |
|  |
| 3.4 |  | **Passage of Title & Risk** |
|  |
|  |  | Risk of loss or destruction of any Aircraft shall pass to the relevant Purchaser upon
Delivery in respect of such Aircraft. |
|  |
| 3.5 |  | **Damage before Delivery** |
|  |
|  |  | If before Delivery in respect of any of Aircraft No. 1, Aircraft No. 2, Aircraft No. 3 or
Aircraft No. 4 , such Aircraft suffers damage which does not constitute an Event of Loss but
for which |



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